The Algerian government is planning to propose an IPO of 20% of local mobile operator Mobilis, according to Agence Ecofin citing finance minister Karim Djoudi.
Speaking to journalists in late April, Djoudi reportedly said that the listing of Mobilis,…
The Algerian government is planning to propose an IPO of 20% of local mobile operator Mobilis, according to Agence Ecofin citing finance minister Karim Djoudi.
Speaking to journalists in late April, Djoudi reportedly said that the listing of Mobilis, which is controlled by state-owned Algerie Telecom, does not mean the company will ultimately be fully privatised.
Other public companies in the banking, insurance and construction sectors may also be partially floated, he said.
With the listings the government hopes to boost Algeria’s struggling capital markets, reported Agence Ecofin.
Mobilis and the finance ministry could not be reached for comment.
Besides Mobilis, Algeria is home to two other carriers, Djezzy and Nedjma, with Djezzy being the largest one.
In late March, it was reported that Russia’s VimpelCom may be close to reaching an agreement on the sale of its majority stake in Djezzy to the North African state.
VimpelCom announced last year it would sell the stake to Algeria, which wants to nationalise Djezzy, subject to an agreement on price.
